Arlo's Car Repairs had total assets of $140,000 and total liabilities of $45,000 at the beginning of the year. During the month the business recorded $120,000 in revenues, $62,000 in operating expenses, and dividends of $15,000 were declared. The company also collected $9,000 in accounts receivable, paid $11,000 in accounts payable, incurred interest on borrowings of $4,000 but wont pay this until February, and signed a contract to hire a consultant to assist them with advertising. The consultant will begin on February 1 (in 2 weeks' time) and will be paid one payment of $8,000. Profit reported by Arlo's Car Repairs for the month of January was: Group of answer choices $44,000 $48,000 $58,000 $54,000